Ghana plans to interconnect mobile money platforms

The Ghana Interbank Payment and Settlement System (GhIPSS) has given hints of moves to interconnect all mobile money payment platforms in the country.

Currently the mobile money platforms in the country are ran by the telecommunications companies such as MTN and Tigo.

The interconnection will be done under what GhIPSS calls the ‘mobile money system’, its Chief Executive Officer, Archie Hesse announced today June 19, 2013 at the National Payments Strategy Workshop here in Accra.

According to Mr Hesse, there was a need for GhIPSS to offer a mobile money platform but it was beaten by the telecoms companies.

“What we will do now is to interconnect the mobile money companies such that if you are with MTN, you are not confined to only MTN but also to Tigo to withdraw your funds,” Mr Hesse said.

He indicated that the initiative will soon be discussed with the various telecoms operators offering that service.

About 93% of Ghanaians are believed to be aware of mobile money, according to a recent study by Visa Inc.

The National Payment System Strategy workshop is hosted by the Bank of Ghana to provide the opportunity for industry players to discuss the development of payment systems in the country, highlight solutions available, challenges and opportunities and also chart a way forward.

By Ekow Quandzie